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that's what boehner wants to do. what boehner said the day after the zbl the -- >> no, let me pick you up on that. that would be very bullish. i happen to totally agree with you. and that's exactly what speaker john boehner wants to do. that is precisely what he wants to do. essentially have tax reform and have entitlement reform and have it laid out so it it all gets done next year. this year is the down payment. >> that's right. >> now, don, is it too early, though, to make a bet on any of this? that's really what i'm asking. between now and year end, when the bush tax cuts expire at year end, what's a stock market investor to do? you're going to go up, you're going to go down. you saw today you had a is 00-point swing. but that's no way to be invested. what is your advice on how investors play this fiscal debate? >> i understand the sentiment that the wise thing to do is to take a long-term perspective. but every once in a while we experienced this in the summer of 2008. we're experiencing it again now. every once
that's what boehner wants to do. what boehner said the day after the zbl the -- >> no, let me pick you up on that. that would be very bullish. i happen to totally agree with you. and that's exactly what speaker john boehner wants to do. that is precisely what he wants to do. essentially have tax reform and have entitlement reform and have it laid out so it it all gets done next year. this year is the down payment. >> that's right. >> now, don, is it too early, though, to make...
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Nov 17, 2012
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republicans john boehner and mitch mcconnell and democrats nancy pelosi and harry reid. >> we had a very constructive meeting with the president to talk about america's fiscal problem. >> we all know something has to be done. >> it was good. i feel confident that a solution may be in sight. >> we're prepared to put revenue on the table, provided we fix the real problem. >> tax hikes and spending cuts could go into effect simultaneously if no deal is reached on the fiscal cliff by the end of the year, both sides have said they are willing to compromise. house speaker boehner says republicans realize that neither side will get everything it wants. >>> exactly one week after he abruptly resigned as head of the cia, david petraeus was back on capitol hill. he met yesterday behind closed doors to brief lawmakers on the september 11th attack on the u.s. consulate in benghazi. according to lawmakers who were there, petraeus now says the attack was an act of terrorism and not the result of a spontaneous anti-western demonstration as initially reported. four americans died in the benghazi inciden
republicans john boehner and mitch mcconnell and democrats nancy pelosi and harry reid. >> we had a very constructive meeting with the president to talk about america's fiscal problem. >> we all know something has to be done. >> it was good. i feel confident that a solution may be in sight. >> we're prepared to put revenue on the table, provided we fix the real problem. >> tax hikes and spending cuts could go into effect simultaneously if no deal is reached on the...
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Nov 17, 2012
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CNN
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president obama state what his position is, which honestly everyone already knows and house speaker john boehner stated what his feeling is on dealing with the fiscal cliff. and that sort of perfunctory here's my position sort of gave way to a back and forth between these two leaders. nothing was settled, but the tone was reportedly good and both republicans and democrats in the room seemed aware this would come down to dealing with tax reform and entitlement reform, and the source told me when the president raised the issue of increasing revenue, there was no, "no, we're not going to do that" from republicans, and when republicans talked about entitlement reform, the president agreed that was something that has to be done. >> well, it sounds good, but do you think when it comes down to the brass tacks both sides are actually ready to bend a bit? >> reporter: i think they're ready to bend than they were going into that whole debacle that was the debt situation. there are some specifics that need to be sorted out for sure, exactly how to raise revenue. as you know, democrats would like to raise t
president obama state what his position is, which honestly everyone already knows and house speaker john boehner stated what his feeling is on dealing with the fiscal cliff. and that sort of perfunctory here's my position sort of gave way to a back and forth between these two leaders. nothing was settled, but the tone was reportedly good and both republicans and democrats in the room seemed aware this would come down to dealing with tax reform and entitlement reform, and the source told me when...
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Nov 17, 2012
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president obama wished house speaker john boehner a happy birthday. the president said he didn't know how many candles they would need for speaker boehner's birthday. he gave him an expensive bottle of wine instead. the speaker turned 63 years old today. >> a new york businessman said tampa, florida, socialite jill kelley asked him for an $80 million deal. those are some of the stories trending as we speak on cnn.com. >> an astronaut battles parkinson's disease while flying through space. we'll show you why he kept his condition a secret and how he's doing 17 years later. [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] at meineke i have options... like oil changes starting at $19.95. my money. my choice. my meineke. >>> an astronaut flies on two missions into space, then
president obama wished house speaker john boehner a happy birthday. the president said he didn't know how many candles they would need for speaker boehner's birthday. he gave him an expensive bottle of wine instead. the speaker turned 63 years old today. >> a new york businessman said tampa, florida, socialite jill kelley asked him for an $80 million deal. those are some of the stories trending as we speak on cnn.com. >> an astronaut battles parkinson's disease while flying through...
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Nov 17, 2012
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you saw john boehner out there saying we are hopeful we can get a deal done. and the market had a positive reaction to that. yet it lost that upside throughout the day, teetered back and forth between positive and negative territory. finally, closing the day out positive, so perhaps that suggests that maybe we are a little bit closer. but here's the thing, randi, they've got to get something done. they've got to solve this issue. because if not, the consequences are severe. >> but you listen to some people, and they suggest that fears of fallen off the cliff are overblown. what are the real consequences here? >> the real consequences are another recession. i mean, i can tell you every ceo that i'm talking to right now says i'm not making major decisions. i'm waiting. i'm standing by the sidelines. i can't hire a lot of people, i can't invest in a lot of infrastructure because i don't know what the landscape is going to be in the next 45 days. i don't know what the landscape is going to be in the next three months. so there's a lot of holdup. now, eventually, o
you saw john boehner out there saying we are hopeful we can get a deal done. and the market had a positive reaction to that. yet it lost that upside throughout the day, teetered back and forth between positive and negative territory. finally, closing the day out positive, so perhaps that suggests that maybe we are a little bit closer. but here's the thing, randi, they've got to get something done. they've got to solve this issue. because if not, the consequences are severe. >> but you...
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when obama and john boehner said down to negotiate very soon, will the gop give a little on this? will they get enough so we can get a resolution? my guess is no. i do not think the defeat was as clear enough to signal that kind of change. we do see if you people like bill kristol saying why are we [unintelligible] it is not -- the economy did great. there is a belief that there is an automatic relationship between the level of taxation on the wealthy and economic growth. you look back at american history, there is an inverse relationship over the last 80 years between level of economic growth and taxation on the wealthy. what will happen? we might sail over the fiscal cliff. that phrase invented by ben bernanke. but relax. the fiscal cliff is the kind of thing that only exists if washington allows it to happen. washington sometimes seems like a school where the teachers set the deadline and then change them. if we do still over the fiscal cliff, there are little maneuvers the treasury can do to make sure that we do not, even if sequestration actually starts, there are maneuvers t
when obama and john boehner said down to negotiate very soon, will the gop give a little on this? will they get enough so we can get a resolution? my guess is no. i do not think the defeat was as clear enough to signal that kind of change. we do see if you people like bill kristol saying why are we [unintelligible] it is not -- the economy did great. there is a belief that there is an automatic relationship between the level of taxation on the wealthy and economic growth. you look back at...
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Nov 17, 2012
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CURRENT
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>> i think the challenge for boehner. it will be a test for john boehner's leadership to find the votes within his caucus, to meet the president and others halfway. he has got to come halfway. certainly the president has got to come halfway. that's what this is about. >> eliot: i agree with you. the president has already gone halfway. i think they'll end up meeting his number. winning in politics brings consequences. new orleans mayor marc moriel. thank you for coming on the program. i'm joined by the one and only congressman barney frank. congressman, thank you for joining us. >> great to be here. for >> eliot: for all the good well and happy talk is there a deal being framed up right now? >> i don't know. i hope there is. we've known there was substantively, but there has to be republicans who understand that sticking with this deficit reduction coming out of domestic programs, and you expand military spending, and you don't increase tax on the wealthy clearly the election said that's not the right way to go. i know the
>> i think the challenge for boehner. it will be a test for john boehner's leadership to find the votes within his caucus, to meet the president and others halfway. he has got to come halfway. certainly the president has got to come halfway. that's what this is about. >> eliot: i agree with you. the president has already gone halfway. i think they'll end up meeting his number. winning in politics brings consequences. new orleans mayor marc moriel. thank you for coming on the...
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CURRENT
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look here we go with more boehner love. i have to show this. this happenedda at the end of the meaning. >> wait, wait, excuse me there is one other point that i want to make and that is my understanding is material is speaker boehner's birthday. for those of you who want to wish hip a happy birthday -- we not not embarrass him with a cake because we didn't know how many candies were needed. >> yeah, right. >> we do want to wish him a happy birthday. >> thank you. thank you. >> all right. thank you, everybody. >> that would be all be nice if he well a tough portion stance -- negotiation stance and he does not and it seems frustrating to people who don't agreey with boehner and don't want to wish him a happy birthday. >> a different situation when reagan and tip o'neill were working together and o'neill would stand up on the president and the president would stand up to tip o'neill and now vuboehner standing up to the president and the president not standing up to boehner. larry cudlow have -- they have been talking about capping deductions to br
look here we go with more boehner love. i have to show this. this happenedda at the end of the meaning. >> wait, wait, excuse me there is one other point that i want to make and that is my understanding is material is speaker boehner's birthday. for those of you who want to wish hip a happy birthday -- we not not embarrass him with a cake because we didn't know how many candies were needed. >> yeah, right. >> we do want to wish him a happy birthday. >> thank you. thank...
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so you've got, as speaker boehner talked about, penalties that would go into place if it is not done. so the construct in place. a short term agreement to get it fully done, not kicking the can down the road. melissa: that can gets kicked all the time. senator, thanks for joining use appreciate it. >> thanks, melissa. melissa: not just d.c. that is copg with uncertainty surrounding the fiscal cliff. stocks suffered a brutal week despite the modest gains we saw today. jonathan hoenig is portfolio manager at capitalist pig.com. he said there is a lot more ready to come unless we get the fiscal house in order unless we do that fast >> catching up on your book. congratulations terrific new book. enjoying quite a book. melissa: you are a genius. you are a fantastic. my favorite guest of all time. what is that book you're reading there? i don't know if i saw the cover. oh. >> outstandin you will learn a lot. unfortunately not what the market wants to know which is about the fiscal cliff and future of our economy. melissa: yeah. >> i'm enjoying your new memoir. melissa: fantastic. i love you
so you've got, as speaker boehner talked about, penalties that would go into place if it is not done. so the construct in place. a short term agreement to get it fully done, not kicking the can down the road. melissa: that can gets kicked all the time. senator, thanks for joining use appreciate it. >> thanks, melissa. melissa: not just d.c. that is copg with uncertainty surrounding the fiscal cliff. stocks suffered a brutal week despite the modest gains we saw today. jonathan hoenig is...
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after boehner's vague comments, there are new concerns that the speaker may give up way too much and agree to tax increases. i'm here to lay out exactly what he has on the table. congressman, good to see you. >> good to be with you, sean. >> sean: i am concerned because -- >> i am -- you and me both? >> i am concerned about caving. you have outgoing virginia governor mcdonald, and former governor haley barbour and others saying, maybe we can give in on these things. did any house republican get elected and say to their constit webts they would raise taxes? if they did, i didn't hear it. >> i don't know a single one. sean, this is not the time to be defensive. and of course, there are plenty of people who say i am very offensive. but this is a time to go on offense, with our big ideas. and use the president's own words. he says everybody ought to pay their fair share, keeping him at his word. he says, warren buffett ought to not pay a lesser percentage than his secretary. what the president proposes will increase taxes on those who are paying a different way for warren buffett. it won
after boehner's vague comments, there are new concerns that the speaker may give up way too much and agree to tax increases. i'm here to lay out exactly what he has on the table. congressman, good to see you. >> good to be with you, sean. >> sean: i am concerned because -- >> i am -- you and me both? >> i am concerned about caving. you have outgoing virginia governor mcdonald, and former governor haley barbour and others saying, maybe we can give in on these things. did...
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if obama, president obama and boehner cannot come up with a plan the past two years, you have senators, a gang of six actually working on a plan b. so if boehner and obama can't come up with something that can go through the house you have a bipartisan group of senators working together, even bob corker from tennessee is working on a bill that will help simplify the code. if plan a doesn't work, plan b will work because at the end. day the american people have spoken, they kept the senate the same, the house virtually the same and the same president, so they're giving them a second chance to actually have our system work. and if working a bipartisan way, it will work. >> jamie: doug, the president, having not submitted a budget that passed in the first four years, at this point are there numbers out there that anybody has seen that proves that the tax increases and the spending cuts will avert a fiscal cliff? >> well, i think the immediate challenge is to avoid what's been called sequestration which is the process in place when they did the debt ceiling deal over a year ago. so, i thin
if obama, president obama and boehner cannot come up with a plan the past two years, you have senators, a gang of six actually working on a plan b. so if boehner and obama can't come up with something that can go through the house you have a bipartisan group of senators working together, even bob corker from tennessee is working on a bill that will help simplify the code. if plan a doesn't work, plan b will work because at the end. day the american people have spoken, they kept the senate the...
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speaker boehner has said he's open to raising revenue. he has not told us or the american public exactly how he would do it. so i do think it would be useful if he would spell it out, then we would have two clear proposals on the table to compare. >> well, it's going to be a long negotiation, it seems, tough negotiation to work things through. but i know a lot of people are hopeful that a deal comes through before the amendment of the year, sir. >> yes, indeed. again, the model, the framework should be the kind of framework that bipartisan groups have come up with in the past in terms of a mix of cuts and again, we did a trillion dollars in cuts last year, but also revenue. that's the kind of balanced approach we need to take. >> allallall right. thank you for joining us. we appreciate it. >> thank you. >> friday former c.i.a. director david petraeus testified hyped closed doors on capitol hill. for some his testimony about the september 11 benghazi attack raises more questions than it answers. we'll ask two congressmen about that in a fa
speaker boehner has said he's open to raising revenue. he has not told us or the american public exactly how he would do it. so i do think it would be useful if he would spell it out, then we would have two clear proposals on the table to compare. >> well, it's going to be a long negotiation, it seems, tough negotiation to work things through. but i know a lot of people are hopeful that a deal comes through before the amendment of the year, sir. >> yes, indeed. again, the model, the...
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after a closed-door meeting, house speaker john boehner said, quote, i believe we can do this. nancy pelosi said we understand our responsibility. if they fail to act, the bush tax cuts would end on january 1. that's the same day sharp cuts to government spending take effect. economists fear the combination could send the country back into a recession. a train that slammed into a parade float, carrying wounded veterans was moving slower that the posted speed limit. safety officials in texas say it was going 62 in a 70-mile-per-hour zone and the train applied its emergency brakes before crashing into the trailer. the accident killed four veterans and injured 16 other people. i'm marianne rafferty. now back to "on the record." >> greta: harry reid telling senate republican leaders, no, rejecting a request for a watergate-style select committee to investigate the benghazi attack. earlier, john mccain led the charge for a special committee. but in a letter tonight, senator reid saying there are plenty of committees investigating benghazi and he took aim at senator mccain, saying he
after a closed-door meeting, house speaker john boehner said, quote, i believe we can do this. nancy pelosi said we understand our responsibility. if they fail to act, the bush tax cuts would end on january 1. that's the same day sharp cuts to government spending take effect. economists fear the combination could send the country back into a recession. a train that slammed into a parade float, carrying wounded veterans was moving slower that the posted speed limit. safety officials in texas say...
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Nov 17, 2012
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there is concern in the far right flank that speaker john boehner will raise tax rates for the top 2 percent. they want to preserve tax cuts for every tax bracket. no one is sure that the speaker is doing that. they are not discussing giving in on the top 2 percent but i don't think that is a promise they will keep. we'll have to wait and see. i know that they wanted entitlement reform on the table if not right now, a promise that we'll get to it in the new year and overall tax reform. those are the demands from the republican side. >> heather: what about spending cuts in terms of democrats? >> there is another hard issue. democrats are going to try to hold as much on spending cuts, but they know that the cuts have to be part of the deal. you can't get republicans along were anything unless there is something on that side. how far are democrats willing to go? on spending cuts and overhauling entitlement reform which is the main driver of the nation's debt. you may see a deal where there is tax increase if democrats are willing to go much further on entitlement reform and spending cut
there is concern in the far right flank that speaker john boehner will raise tax rates for the top 2 percent. they want to preserve tax cuts for every tax bracket. no one is sure that the speaker is doing that. they are not discussing giving in on the top 2 percent but i don't think that is a promise they will keep. we'll have to wait and see. i know that they wanted entitlement reform on the table if not right now, a promise that we'll get to it in the new year and overall tax reform. those...
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john boehner said it is now the law of the land. good to see you. biggest colonel to me, my family and to people out there watching. will my quality of care care change? >> first of all, you may lose the plan you get on your job. and you may lose full-time job status as a result. this law says that employers. >> is this all of it. >> this is all of it. >> we like our guests to bring us cake not 2,000 pages of healthcare legislation. >> unfortunately this is what you have got. this law says that employers with 50 or more full-time workers have to provide health insurance. not just any health insurance but the one size fits all government designed plan. that cost almost twice as much as what many employers currently provide. so, as a result. employers in many cases are going to drop the coverage and may even move their full-time employees into part time status to avoid the penalty. >> we have already seen companies doing that. >> that's right. and the government actually predicts that under this employer mandate, fewer people will get on the job insur
john boehner said it is now the law of the land. good to see you. biggest colonel to me, my family and to people out there watching. will my quality of care care change? >> first of all, you may lose the plan you get on your job. and you may lose full-time job status as a result. this law says that employers. >> is this all of it. >> this is all of it. >> we like our guests to bring us cake not 2,000 pages of healthcare legislation. >> unfortunately this is what...
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. >> reporter: john boehner proposed that leaders establish a framework in the next six weeks for widescale reform of the tax code, medicare and social security in 2013. the goal would be to set specific targets now for savings for those reforms. that would negate the need for deep spending cuts that are set to kick in on january 1st. >> take some deep breaths. >> reporter: while democrats balk at any intention of entitlement reform, nancy pelosi signals a new openness >> do we want to have saves from everything that we do? certainly. we need revenue, savings, and growth. >> reporter: she said there appeared to be interest among the leaders for a big deal, $4 trillion in deficit reduction along the lineups of the grand bargain -- lines of the grand bargain that fell apart between the president dent and john boehner last year. >>> tonight the shelves are empty. >> i'm just fighting for my rights and don't take away what i got. >> the twinkie is now a story of lost jobs. >> it's a childhood memory, definitely. >> in the creamy filling, there is also a lesson in nostalgia. why so many american
. >> reporter: john boehner proposed that leaders establish a framework in the next six weeks for widescale reform of the tax code, medicare and social security in 2013. the goal would be to set specific targets now for savings for those reforms. that would negate the need for deep spending cuts that are set to kick in on january 1st. >> take some deep breaths. >> reporter: while democrats balk at any intention of entitlement reform, nancy pelosi signals a new openness...
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senate majority leader harry reid, a democrat, and republican house speaker john boehner were among those attending. the president called for high income workers in the u.s. to pay more in taxes. >> i think we're all aware that we have some urgent business to do. we've got to make sure that taxes don't go up on middle class families, that our economy remains strong, that we're creating jobs. >> the republican speaker of the house of representatives asked for a balanced approach. republicans have been called for added revenue through curbs on tax deductions and credits. >> i believe that the framework that i've outlined in our meeting today is consistent with the president's call for a fair and balanced approach. >> any new legislation must be enacted before the end of december to keep the u.s. from plunging off that fiscal cliff. >>> senior diplomats from japan and north korea wrapped up a round of talks in mongolia and have reported some progress. the north koreans also say they're open to talking about their country's abductions of nationals. they don't seem to go farther until japan ha
senate majority leader harry reid, a democrat, and republican house speaker john boehner were among those attending. the president called for high income workers in the u.s. to pay more in taxes. >> i think we're all aware that we have some urgent business to do. we've got to make sure that taxes don't go up on middle class families, that our economy remains strong, that we're creating jobs. >> the republican speaker of the house of representatives asked for a balanced approach....
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. >> president obama wished house speaker john boehner an early happy birthday. the president gave him a bottle of sanjiovacy. >> one miff favorites. >> yes. >> yes, it could vool yait the gift limit is $50 and no combination from one source can exceed $100 per year, abc news reports the bottle retails for 125s oodz no wine for mr. boehner. >> an oakland police officer helped capture one of oakland's most-wanted criminals. this went down at ruth's chris steak house. the officer was having dinner, and he noticed a number of notorious street gangs in a nearby table. he stepped outside, called police then went back inside to his table, officers from both cities all converged outside. >> seemedf/s;s vital realtime information from the officer. we knew his movement, his whereabouts. >> the man arrested wanted for a residential robbery, he was dining with fellow gang members. police made some skipped out on the check go back, pay, and leave a nice tip. >> yes. >> still ahead on abc 7 news at 4:00 good samaritans. a grandfather saves a baby's live at the last minute. >>
. >> president obama wished house speaker john boehner an early happy birthday. the president gave him a bottle of sanjiovacy. >> one miff favorites. >> yes. >> yes, it could vool yait the gift limit is $50 and no combination from one source can exceed $100 per year, abc news reports the bottle retails for 125s oodz no wine for mr. boehner. >> an oakland police officer helped capture one of oakland's most-wanted criminals. this went down at ruth's chris steak...
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republican leader john boehner called the meeting constructive saying a deal is possible with conditions. >> to show our seriousness we've put revenue on the table. as long as it's accompanied by significant spending cuts. >> the impact of the fiscal cliff would be widespread. for example all tax cuts that took effect a decade ago would end. and domestic programs would be reduced bid that same amount. that optimism in washington helped wall street temporarily stop its postelection slide. the dow closed 45 points higher today. the nasdaq gained 16. the markets rallied higher after the remarks from the president and congress. >>> former cia director petraeus was back in capitol hill today exactly one week after he acknowledged an extramarital affair. as john fowler reports, lawmakers questioned the four star general about the deadly attack at the u.s. consulate in libya. >> reporter: retired general petraeus apologized to lawmakers for his apair that led to his resignation last week. reveals a military culture of sexual corruption. >> i'm deeply, deeply disappointed in former general petra
republican leader john boehner called the meeting constructive saying a deal is possible with conditions. >> to show our seriousness we've put revenue on the table. as long as it's accompanied by significant spending cuts. >> the impact of the fiscal cliff would be widespread. for example all tax cuts that took effect a decade ago would end. and domestic programs would be reduced bid that same amount. that optimism in washington helped wall street temporarily stop its postelection...
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house speaker john boehner says he thinks they will have a solution before the end of the year. >>> and there are new details about the woman, jill kelley, at the center of the scandal that brought down general petraeus. as nbc's andrea mitchell reports jill kelley's connections went beyond the social elite and tampa, all the way to the white house. >> reporter: jill kelley and her twin sister met at the white house, touring it on november fourth with their families, two days before general james clapper, the director of national intelligence was even told about the petraeus scandal. jill kelley mentioned the visit in an e-mail, saying i was at the white house with my friends in the administration this weekend. the stress was surreal. white house officials say the kelley sisters were invited by a staffer who may have met at the air force base. jill kelley was bipartisan in her outreach, she and her sister dropped in on a fundraiser for marco rubio two years ago. they did not pay, sources said, just arrived and soon left. in an e-mail last march, jill kelley said she was trying to carryi
house speaker john boehner says he thinks they will have a solution before the end of the year. >>> and there are new details about the woman, jill kelley, at the center of the scandal that brought down general petraeus. as nbc's andrea mitchell reports jill kelley's connections went beyond the social elite and tampa, all the way to the white house. >> reporter: jill kelley and her twin sister met at the white house, touring it on november fourth with their families, two days...
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greater confidence that he's got more leverage, and republicans are a bit chasen by the outcome so boehner and mcconnell have more control over their flocks than they did before the election. >> thank you. >>> let's get a check of the morning's other top stories now. jenna wolfe is standing by. good morning. >>> good morning. the coast guard is searching for two workers who went missing after a fire on an oil rig in the gulf of america. the fire which broke out friday as workers were using a torch to cut an oil line was quickly put out. the coast guard said no oil is coming from the well. >>> a national tragedy is playing out in the plains of west texas. frail investigators are trying to determine whether a small parade to honor wounded veterans had been given enough warning to clear train tracks they were trying to cross. a freight lane slammed into the tractor trailer killing four decorated veterans and injuring 16 people. >>> there's been another terrible train crash this one in southern egypt. a security official says it appears a railroad crossing was not closed when a speeding train
greater confidence that he's got more leverage, and republicans are a bit chasen by the outcome so boehner and mcconnell have more control over their flocks than they did before the election. >> thank you. >>> let's get a check of the morning's other top stories now. jenna wolfe is standing by. good morning. >>> good morning. the coast guard is searching for two workers who went missing after a fire on an oil rig in the gulf of america. the fire which broke out friday as...
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. >> reporter: in the meeting, house speaker john boehner proposed leaders establish a framework in the next six weeks for wide scale reform of the tax code, medicare, and social security in 2013. e e goal would be to set specific targets now for savings from those reforms. msat would negate the need for cutp spending cuts congress called for last year that are set to kick in on january 1, the reme day the bush tax cuts are set to expire. that damaging combo has been wnme to be known as the fiscal cliff. while democrats often balling at day mention of entitlement reform, today nancy pelosi signaled a new openness. >> do we want to have savings from everything that we do? certainly? so we need revenue, we need savings, we need growth. > reporter: leader pelosi said tere appeared to be interest in a big deal, about four trillion rsllars worth of deficit reductions along the lines of the grand bargain that fell part wean the president and tpeaker boehner last year, rethony. >> mason: nancy, there are just 46 days until the new year. what can they really hope to ?ccomplish in that time? >>
. >> reporter: in the meeting, house speaker john boehner proposed leaders establish a framework in the next six weeks for wide scale reform of the tax code, medicare, and social security in 2013. e e goal would be to set specific targets now for savings from those reforms. msat would negate the need for cutp spending cuts congress called for last year that are set to kick in on january 1, the reme day the bush tax cuts are set to expire. that damaging combo has been wnme to be known as...
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one of the issues with the fiscal cliff is what kind of legacy would john boehner or the president leave behind when they leave office if they can't get a deal done and what about a second term compromising and going your own route. >> terrific point. the big things that have happened in our country's history, the big pieces of legislation have either come when we've had enormous majorities of one party or the other, the great society, president johnson and a huge land side, lying majorities in congress, or with a compromise. what we've not had historically is closely fought vague important things happen. big reform. and in this case the president has the senate but he also has a republican house. and so i think and i'll look at this from thomas jefferson, you look at it with ronald reagan it goes all the way through, presidents who manage to give as well as to take particularly in a second term do the best. >> john your said in your article that the president should be careful about the conventional wisdom for second terms for presidents. what did you mean? >> i don't think he should cl
one of the issues with the fiscal cliff is what kind of legacy would john boehner or the president leave behind when they leave office if they can't get a deal done and what about a second term compromising and going your own route. >> terrific point. the big things that have happened in our country's history, the big pieces of legislation have either come when we've had enormous majorities of one party or the other, the great society, president johnson and a huge land side, lying...
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boehner. is it any different, or is this just about, i don't know, smoke and mirrors? >> well, i think the atmosphere is certainly different as you mentioned. in the past, these guys would go back to capitol hill and put out competing statements about what went on during the meetings. you saw what happened last year during the debt ceiling negotiations. this time it was one big happy family. there certainly seems to be some sort of recognition on the part of how fed up american people with sort of the seeing this game of chicken being played at such a high stakes time. i think there is certainly, after this election, there is kind of a let's get down to business. let's see if we can get this thing done. whether that can translate -- david just said, the biggest sticking point, taxes on the wealthy is still on the table. you can sing happy birthday to john boehner as much as you want. gwen: he would still say no. >> absolutely. i think it's really premature to try to predict what is going to ha
boehner. is it any different, or is this just about, i don't know, smoke and mirrors? >> well, i think the atmosphere is certainly different as you mentioned. in the past, these guys would go back to capitol hill and put out competing statements about what went on during the meetings. you saw what happened last year during the debt ceiling negotiations. this time it was one big happy family. there certainly seems to be some sort of recognition on the part of how fed up american people...
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and house speaker john boehner said republicans are willing to offer higher tax revenue as part of a deal. >> to show our seriousness we've put revenue on the table, as long as it's accompanied by significant spending cuts. and while we're going to continue to have revenue on the table, it's going to be incumbent for my colleagues to show the american people that we're serious about cutting spending and solving our fiscal dilemma. >> holman: on the democratic side, senate majority leader reid promised work will continue on a deal over the thanksgiving recess. he said, "we all know something has to be done." wall street took some hope from that white house meeting. the dow jones industrial average gained nearly 46 points to close at 12,588. the nasdaq rose 16 points to close at 2,853. but for the week, the dow and the nasdaq fell nearly 2%. also today, j.p. morgan chase and credit suisse agreed to pay $417 million in a federal civil settlement. they allegedly sold mortgage bonds they knew could fail before the 2008 financial crisis. it looks like twilight for twinkies. hostess brands
and house speaker john boehner said republicans are willing to offer higher tax revenue as part of a deal. >> to show our seriousness we've put revenue on the table, as long as it's accompanied by significant spending cuts. and while we're going to continue to have revenue on the table, it's going to be incumbent for my colleagues to show the american people that we're serious about cutting spending and solving our fiscal dilemma. >> holman: on the democratic side, senate majority...
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there could be some possible could use with john boehner saying that republicans are willing to consider increase revenue as well as it is noit also is-accod with spending cuts. >> this deals with reforming our tax code and 80 framers that deals with our spending. i believe that the framework is consistent with the president's call for a fair and balanced approach. >> we understand that has to be about cuts. we understand about our responsibility that it has to be about revenue. it has to be about the growth it has to be about the future. >> after all that talk amoun meet for tar described as pretty much everybody was talking about it-those talks were pretty constructive. the highly anticipated wii u will be $300 and new gaming technology. gabe slate tech report >> i got my hands on the new wii u this wireless game controller. here is a sneak peek at one of the greatest products. this is the wii u much more horrible machine with a fall high- definition graphics and the visuals looked much cleaner and sharper. much more -- highly anticipated machine. -- >> this touch-like tablet is great
there could be some possible could use with john boehner saying that republicans are willing to consider increase revenue as well as it is noit also is-accod with spending cuts. >> this deals with reforming our tax code and 80 framers that deals with our spending. i believe that the framework is consistent with the president's call for a fair and balanced approach. >> we understand that has to be about cuts. we understand about our responsibility that it has to be about revenue. it...
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republican leader john boehner called the meeting constructive saying a deal is possible with conditions. >> to show our seriousness we've put revenue on the table. as long as it's accompanied by significant spending cuts. >> the impact of the fiscal cliff would be widespread. for example all tax cuts that took effect a decade ago would end. and domestic programs would be reduced bid that same amount. that optimism in washington helped wall street temporarily stop its postelection slide. the dow closed 45 points higher today. the nasdaq gained 16. the markets rallied higher after the remarks from the president and congress. >>> former cia director petraeus was back in capitol hill today exactly one week after he acknowledged an extramarital affair. as john fowler reports, lawmakers questioned the four star general about the deadly attack at the u.s. consulate in libya. >> reporter: retired general petraeus apologized to lawmakers for his apair that led to his resignation last week. reveals a military culture of sexual corruption. >> i'm deeply, deeply disappointed in former general petra
republican leader john boehner called the meeting constructive saying a deal is possible with conditions. >> to show our seriousness we've put revenue on the table. as long as it's accompanied by significant spending cuts. >> the impact of the fiscal cliff would be widespread. for example all tax cuts that took effect a decade ago would end. and domestic programs would be reduced bid that same amount. that optimism in washington helped wall street temporarily stop its postelection...